Isq Global Fund Ii Gp Llc Sells 58,383 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 58,383 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $55.14, for a total transaction of $3,219,238.62. Following the completion of the sale, the insider owned 738,753 shares of the company’s stock, valued at $40,734,840.42. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The shares were sold at an average price of $55.39, for a total transaction of $323,477.60.
• On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total transaction of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were sold at an average price of $55.28, for a total value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were sold at an average price of $55.17, for a total value of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The shares were sold at an average price of $54.32, for a total value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total value of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total value of $5,834,670.00.

Kinetik Stock Up 1.2%

Shares of NYSE:KNTK opened at $54.84 on Friday. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92. The stock’s 50 day moving average is $51.83 and its 200-day moving average is $48.84. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.34 and a beta of 0.57.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. During the same quarter last year, the firm posted $0.33 EPS. Kinetik’s revenue was up 36.3% compared to the same quarter last year. Equities research analysts anticipate that Kinetik Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KNTK. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price objective (up from $64.00) on shares of Kinetik in a report on Tuesday, August 18th. Wells Fargo & Company restated an “overweight” rating and issued a $54.00 target price on shares of Kinetik in a report on Monday, August 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $56.00 price target on shares of Kinetik in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Truist Financial boosted their price objective on Kinetik from $53.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Kinetik currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Trading of Kinetik

Several institutional investors have recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its position in Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after purchasing an additional 59,942 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in shares of Kinetik during the 4th quarter worth approximately $9,323,000. HighTower Advisors LLC lifted its position in shares of Kinetik by 33.1% during the 4th quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock worth $3,710,000 after buying an additional 25,574 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Kinetik in the 1st quarter worth approximately $1,612,000. Finally, SG Americas Securities LLC boosted its stake in shares of Kinetik by 92.6% in the 1st quarter. SG Americas Securities LLC now owns 274,447 shares of the company’s stock worth $13,286,000 after buying an additional 131,971 shares during the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Company Profile

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.